Agenda Item #23
Sale of Land at Eau Gallie High School
The Florida Department of Transportation (FDOT) requires additional right-of-way for proposed roadway improvements at the Eau Gallie Blvd. / Commodore Blvd. Intersection. This will require the sale (in lieu of condemnation) of 0.35 acres of property at the southeast corner of the Eau Gallie HS campus - a 20' x 460' parcel along Commodore Blvd. and a 8' x 632' parcel along Eau Gallie Blvd. See the Sale Property attachment.
An appraisal by the FDOT established a value of $113,500 for the land, $91,500 for the existing improvements (curbing, asphalt, signage, landscaping and irrigation) and $101,600 to "cure" the impact of the take (demolition, curbing, asphalt, sealing, striping, bollards, landscaping, irrigation, stormwater structures and relocation of existing signage). See the Appraisal Summary and the Scope of Work to Cure attachments.
The sale price of the land was increased to $151,300 through negotiation and a Purchase Agreement was signed, subject to School Board approval, for $344,400. See the Purchase Agreement attachment.
After deducting $101,600 for the cost to Cure, the net proceeds to the School District will be $242,800 ($151,300 for the land + $91,500 for the existing improvements) plus any savings from the cost to Cure. Because the Eau Gallie property was encumbered in the 1992 Certificate of Participation (COP) Master Lease, the net proceeds must be used to pay debt at the next debt payment.
Because the Florida School Boards Association (FSBA) was the issuing entity for the COP, a Quitclaim Deed has been obtained from the FSBA. See the Quitclaim Deed attachment. Note that this function has since been taken over by the Brevard County School Board Leasing Corporation.
Allen Engineering prepared construction documents for the Cure and Kinley Construction is in the process of executing the scope of work for the Cure. Both consultants were retained through their Continuing Contracts for Professional Services. Kinley Construction commenced work during the Summer Break and is scheduled to be complete by the end of August 2011.
Neither the sale of the land or the construction activity to execute the Cure will impact school operations.
Approve the attached Purchase Agreement, Resolution and School Board Deed for the sale (in lieu of condemnation) of 0.35 acres of land and existing improvements at the southeast corner of the Eau Gallie High School property to the Florida Department of Transportation for $344,400.
Information - 8/23/2011
Consent after Information9/13/2011
Authority for Action
Involves Expenditure of Funds Directly in the Classroom
Source of Funding
Agenda Item will not Require the Expenditure of Funds
Dane Theodore, Director, Planning & Project Management 633-1000 x657
Attachment: Sale Property.pdf
Attachment: Appraisal Summary.pdf
Attachment: Scope of Work to Cure.pdf
Attachment: Purchase Agreement.pdf
Attachment: Quitclaim Deed.pdf
Attachment: School Board Deed.pdf